Comerica Bank Sells 1,802 Shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT)

Comerica Bank trimmed its position in New York Mortgage Trust, Inc. (NASDAQ:NYMT) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,868 shares of the real estate investment trust’s stock after selling 1,802 shares during the quarter. Comerica Bank’s holdings in New York Mortgage Trust were worth $236,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NYMT. Janney Montgomery Scott LLC bought a new stake in New York Mortgage Trust during the fourth quarter worth approximately $407,000. Allspring Global Investments Holdings LLC boosted its position in shares of New York Mortgage Trust by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,633,729 shares of the real estate investment trust’s stock valued at $22,311,000 after buying an additional 12,237 shares during the period. Van ECK Associates Corp boosted its position in shares of New York Mortgage Trust by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 808,522 shares of the real estate investment trust’s stock valued at $4,900,000 after buying an additional 72,946 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of New York Mortgage Trust during the fourth quarter valued at approximately $49,000. Finally, Rhumbline Advisers boosted its holdings in shares of New York Mortgage Trust by 5.4% in the fourth quarter. Rhumbline Advisers now owns 277,123 shares of the real estate investment trust’s stock valued at $1,679,000 after purchasing an additional 14,104 shares during the period. 54.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NYMT. StockNews.com raised New York Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 1st. Jones Trading reissued a “buy” rating and set a $7.50 target price on shares of New York Mortgage Trust in a research note on Friday, May 2nd. Finally, B. Riley increased their target price on shares of New York Mortgage Trust from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd.

New York Mortgage Trust Trading Down 1.0%

Shares of New York Mortgage Trust stock opened at $7.12 on Friday. The firm has a market capitalization of $642.92 million, a PE ratio of -6.25 and a beta of 1.24. New York Mortgage Trust, Inc. has a twelve month low of $5.02 and a twelve month high of $7.27. The firm’s 50-day moving average price is $6.21 and its 200 day moving average price is $6.17. The company has a current ratio of 11.17, a quick ratio of 8.25 and a debt-to-equity ratio of 8.33.

New York Mortgage Trust (NASDAQ:NYMT) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $33.10 million during the quarter, compared to the consensus estimate of $27.84 million. New York Mortgage Trust had a negative net margin of 15.46% and a negative return on equity of 1.39%. On average, sell-side analysts predict that New York Mortgage Trust, Inc. will post 0.51 EPS for the current fiscal year.

New York Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Monday, March 31st were issued a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 11.24%. New York Mortgage Trust’s payout ratio is -1,333.33%.

About New York Mortgage Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, including business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); single-family rental properties; and other mortgage, residential housing, and credit-related assets.